Former Tilton Company MD Helicopters to Sell Assets to Lenders

A helicopter manufacturer once owned by distressed debt investor Lynn Tilton won bankruptcy court approval of a sale of its assets for up to $210 million.

MDH Holdco LLC is approved to buy substantially all the assets of bankrupt MD Helicopters Inc., according to an order of Judge Karen B. Owens of the US Bankruptcy Court for the District of Delaware following a hearing Friday.

MDH will apply $150 million of pre-bankruptcy debt toward the purchase and will assume the amount of an approved $60 million post-bankruptcy debtor-in-possession loan that MD Helicopters actually borrowed. When MD Helicopters filed for Chapter ...